HUD PowerSaver Pilot Loan Program

Publication Type

Policy Brief

Date Published

12/2010

LBNL Report Number

LBNL-4555E

Abstract

The U.S. Department of Housing and Urban Development (HUD) recently announced the creation of a pilot loan program for home energy improvements. The PowerSaver loan program is a new, energy-focused variant of the Title I Property Improvement Loan Insurance Program (Title I Program) and is planned for introduction in early 2011. The PowerSaver pilot will provide lender insurance for secured and unsecured loans up to $25,000 to single family homeowners. These loans will specifically target residential energy efficiency and renewable energy improvements. HUD estimates the two-year pilot will fund approximately 24,000 loans worth up to $300 million; the program is not capped. The Federal Housing Administration (FHA), HUD‟s mortgage insurance unit, will provide up to $25 million in grants as incentives to participating lenders. FHA is seeking lenders in communities with existing programs for promoting residential energy upgrades.

Secondary Title

Clean Energy Program Policy Brief

Year of Publication

2010

Tertiary Authors

Pagination

6

Publisher

LBNL

Place Published

Berkeley

Citation Key

6307

Organization: 

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